Give incentives for sectors impacted by economic meltdown: IT leaders

The Indian IT and electronics leaders on Sunday urged the Centre to lift certain tariffs and announce incentive schemes for sectors impacted by recession in the Union Budget for FY24.

Pankaj Mohindroo, Chairman of India Cellular and Electronics Association (ICEA), said that tariffs on inputs and components are an important barrier to increasing localisation.

“However, some of the smaller tariffs should be done away with to support local businesses and bring ease of doing business. ICEA recommends that the tariff of 2.75 per cent (including social welfare surcharge), among other smaller tariffs which have no beneficial impact and only create a burden for legitimate manufacturers, is removed,” Mohindroo said in a statement.